Waddell & Reed’s Ivy group starts new funds

The Ivy Fund group, which is part of Overland Park-based Waddell & Reed Financial Inc., has started two new mutual funds, each of which taps Apollo Credit Management as the adviser.

Both the Ivy Apollo Strategic Income Fund and Ivy Apollo Multi-Asset Income Fund will divide investments into “sleeves,” or strategies, that target different markets with different managers.

The multi-asset fund, for example, expects to invest 20 percent in a total return strategy, 30 percent in high income investments, 40 percent in global equity income and 10 percent in a global real estate strategy.

Mark Davis, mdavis@kcstar.com

This story was originally published October 1, 2015 at 9:49 AM with the headline "Waddell & Reed’s Ivy group starts new funds."